Govt wants Labor support on super package
The Federal Government has called on the Opposition to accept a briefing on the changes to the Budget superannuation measures and indicate whether or not their passage will be supported through the Parliament.
The Minister for Revenue and Financial Services, Kelly O'Dwyer made the call in a radio interview in which she said she believed there were no further impediments which would justify the Labor Party opposing the superannuation package.
"….we have very clearly said to the Labor Party on the superannuation reform package, there is now no impediment for their support and they should accept our offer of a briefing," she said.
"….they should get on board and they should deliver the flexibility and choice that Australians expect, want and demand," O'Dwyer said.
The Minister continued to emphasise the Government's position that the superannuation changes had served to prevent superannuation from being used as an estate planning tool.
"Superannuation is not an estate planning vehicle, it is there to provide support for Australians investing in their superannuation, to provide them with a retirement income that will either substitute or supplement for the aged pension. That's what we're delivering in our package."
Recommended for you
Data and technology provider Novigi has acquired Iress’ superannuation consulting and managed services business from Apex Group.
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
